Please find enclosed the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026,

October 31, 2026 BSE Limited National Stock Exchange of India Limited (BSE: 542726) (NSE: INDIAMART) Subject: Transcript of Earnings Conference Call on financial results and developments for the quarter and half year ended September 30, 2026 Dear Sir/Ma’am, Pursuant to Regulation 30 read with Part A of Schedule III of the Listing Regulations, we wish to inform that the Transcript of Earnings Conference Call for Analysts and Investors held on Tuesday, October 27, 2026, with respect to the financial results and developments of the Company for quarter and half year ended September 30, 2026, is enclosed herewith. The copy of transcript is also available on the Company’s website at https://investor.indiamart.com/FinancialResultsStatements.aspx. Kindly take note of the same. Yours faithfully, For IndiaMART InterMESH Limited (Manoj Bhargava) Company Secretary Membership No: F5164 Encl: As above. Webinar Transcript Event: IndiaMART Q2 FY2027 Earnings Webinar Event Date/Time: Oct 27, 2026 at 17:00 hrs CORPORATE PARTICIPANTS: Mr. Dinesh Chandra Agarwal - Chief Executive Officer Mr. Brijesh Kumar Agrawal - Whole-Time Director Mr. Jitin Diwan - Chief Financial Officer Mr. Prateek Chandra - Chief Strategy Officer Mr. Avijit Vikram - Head Investor Relations IndiaMART InterMESH Limited Oct 27, 2026 Avijit Vikram: Good evening, ladies and gentlemen. I am Avijit Vikram, Head of Investor Relations. On behalf of IndiaMART InterMESH Limited, I welcome you all to the company's quarter two FY '27 earnings webinar. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity to ask questions after the presentation concludes. Joining us today from the management side, we have Mr. Dinesh Agarwal, Chief Executive Officer; Mr. Brijesh Agrawal, Whole-Time Director; Mr. Jitin Diwan, Chief Financial Officer; and Mr. Prateek Chandra, Chief Strategy Officer. Before we begin, I would like to remind you that some of the statements made in today's call may be forward-looking in nature and may involve risks and uncertainties. Kindly refer to Slide 3 of the earnings presentation for the detailed disclaimer. Now, I would like to hand over the call to Mr. Dinesh Agarwal for his opening remarks. Thank you, and over to you Sir. Dinesh Chandra Agarwal: Thank you, Avijit. Good evening, everyone, and welcome to IndiaMART's quarter two FY '27 earnings webinar. We have circulated our earnings presentation, which is available on our website as well as the website of the stock exchanges. We are sure you would have gone through the same, and we would be happy to take any questions afterward. IndiaMART has delivered consolidated revenue from operations of Rs. 429 crores in the quarter two, representing a year-on-year growth of 10%. Consolidated collection from customers grew to Rs. 443 crores, representing a 9% year-on-year growth for the quarter two. Consolidated deferred revenue grew to Rs. 2,029 crores, representing a 16% year-on-year growth. In quarter two, unique business enquiries were 27 million. Our total paying supplier base was 2,17,000 at the end of quarter two, reflecting a net decline of 615 suppliers during the quarter. This decrease can primarily be attributed to an elevated churn at the Silver subscription. Our Platinum and Gold customers, which contribute approximately 50% of our customer base and about 75% of revenue, continue to have good upsell and retention rate. We are consistently working to enhance our artificial intelligence capabilities across the platform by refining our intelligent matchmaking and standardising cataloguing, Page 2 of 21 IndiaMART InterMESH Limited Oct 27, 2026 and leveraging AI for voice-based applications. We are focusing on providing a seamless discovery experience. Parallel to those technological advancement, building a trusted marketplace remains a fundamental strategic priority. We are actively enhancing our multi-layered user verification and platform protection features to foster a highly secure, transparent environment. Through these core improvements, we are strengthening our overall matchmaking ecosystem. Our primary goal remains unchanged, to serve as the highly reliable digital partner of MSMEs, providing the robust ecosystem they need today to grow sustainability tomorrow. Now, I will hand over the call to Brijesh to update about BUSY Infotech. Thank you, and over to you, Brijesh. Brijesh Kumar Agrawal: Hi. Good evening, everyone. At BUSY, we have done a billing of Rs. 46 crores in Q2. This represents a YoY growth of 20%. The revenue from operations are at Rs. 37 crores, which is a 27% year-on-year growth. The deferred revenues are at about Rs. 155 crores, and that shows a 40% year-on-year growth, while the cash from operations stood at about Rs. 12 crores. In Q2, we sold approximately 11,000 new licenses, bringing our total licenses sold to 4,66,000. We recently launched BUSY Magic, which has a new UI interface for BUSY. This is something which is seeing an encouraging market adoption. We are in the process of revamping the entire technology base of BUSY, and we are entering the last leg of doing those changes now. Beyond this specific rollout, we continue to broaden our overall product portfolio so that our customers can get better values and more intelligent capabilities by using BUSY. And apart from the developments on the product side, we actively work to expand the sales and the distributive channels that we have, so that we can continue to maintain decent growth in the business. With this, I will request Jitin to take over and discuss about the financial performance. Jitin Diwan: Sure. Thank you. Good evening, everyone. I will take you through the financial performance for the quarter ending September 2026. Consolidated collections from customer was Rs. 443 crore in the quarter, representing YoY growth of 9%. IndiaMART standalone Page 3 of 21 IndiaMART InterMESH Limited Oct 27, 2026 collection from customer for the quarter was Rs. 394 crores, registering YoY growth of 8%. Consolidated deferred revenue stood at Rs. 2,029 crores, an increase of 16% on YoY basis. Consolidated revenue from operations was Rs. 429 crores for the quarter, registering YoY growth of 10%. Consolidated EBITDA was Rs. 159 crore for the quarter, representing margin of 37%. Consolidated other income was negative Rs. 8 crores during the quarter, primarily due to increase in bond yields, which led to MTM losses. We believe that it is notional loss and will reverse in the next few quarters. Consolidated net profit for the quarter was Rs. 91 crores. And the cash generated from operations was Rs. 135 crores for the quarter. Consolidated cash and treasury balance as at the end of the quarter was Rs. 3,234 crores. Thank you very much, and now we are ready to take questions. Over to you, Avijit. Question-and-Answer Session Avijit Vikram: We will now begin the Q&A session. If you wish to ask a question to the panellists, kindly raise your hand and allow camera and microphone access. Alternatively, you may type your questions in the chat menu and we will revert on that. Please restrict to two questions so that we will be able to address questions from all the participants. We will wait for a few seconds while the question queue assembles. Moderator: First question is from the lines of Kunal Thanvi from Banyan Tree Advisors. Please unmute yourself and go ahead with your question. Kunal Thanvi: Hi, thanks for the opportunity. I had two questions. One was regarding some of the operational parameters. When we look at, say, net active buyers and the unique business enquiries, we see a declining trend on a YoY basis, and this has been trend for a while now. How should one look at it, and how long do we think this trend will continue, given the fact that we have been tightening the verification process, etc., etc.? And like would you attribute any of this decline to searches coming through GenAI rather than, say, the traditional Google [Showing first 8,000 characters — download PDF for full document]